From 1 April 2019, under Making Tax Digital (“MTD”), businesses registered for VAT with a taxable turnover above £85,000 will need to keep their VAT records digitally and file their returns using Making Tax Digital-compatible software.
To help prepare, HMRC introduced a pilot scheme for qualifying businesses to test ahead of the Spring deadline. This allowed businesses to opt in and test the service before they are required to join.
As a firm, we have had numerous clients opt in to the pilot scheme all of whom we have successfully submitted their first MTD compliant VAT return for.
Are you ready for MTD?
Whether you have not started preparing at all, have finished all preparations but just need some advice, or anywhere in between… our team is on hand to help. Get in touch with your usual Smith Cooper contact or click here to get in touch today.